California Probate Code Section 15200 describes the ways in which a trust can be created. A trust can be created by a few different methods, and it is always recommended that you work directly with a Pasadena estate planning lawyer. At our office, we work with you to create a plan aligned with what’s most important for your estate planning goals, which might include things like privacy or control.
If you’re not sure where to get started, we can assist with that, too.
A trust can be created by:
- A declaration by the owner of the property that the owner holds that property as a trustee.
- An enforceable promise to create a trust.
- A transfer of property by the owner through an instrument such as a will to another person as trustee.
- An exercise of a power of appointment to another person as a trustee.
- A transfer of property by the owner during that owner’s lifetime to another person as trustee.
A few elements must be satisfied for a California trust to be legally valid. First of all, the trust cannot be created for any illegal purpose. The trust must have property per California probate code section 15202 and there must be a manifestation of intent by the settlor. Furthermore, there must also be a beneficiary on the trust.
To satisfy these requirements and to learn more about how a California trust can help you to accomplish your estate planning goals, set aside time to speak with a dedicated estate planning lawyer today.